In the rapidly evolving digital economy, efficient and compliant invoicing solutions are essential for businesses. myPOS FBR Digital Invoicing offers a streamlined and robust platform designed to meet these needs, ensuring that companies can manage their invoicing processes easily and according to legal requirements.

This article provides an in-depth look into myPOS FBR Digital Invoicing aspects, including its legal provisions, technical assistance, licensed integrators, licensing committee, expressions of interest (EOIs), and frequently asked questions (F.A.Q.s).

Digital Invoicing Legal Provisions

A framework of legal provisions governs Digital invoicing to ensure compliance, transparency, and security in financial transactions. The primary legal requirements include:

1. Compliance with Tax Regulations: Businesses must adhere to federal and state tax laws, ensuring that all digital invoices reflect accurate tax calculations and reporting.
2. Data Security and Privacy: Invoices must be processed and stored in a manner that safeguards sensitive financial information against unauthorized access and breaches.
3. Authenticity and Integrity: Digital invoices must be verifiable and tamper-proof, ensuring the authenticity and integrity of the transaction records.

myPOS FBR Digital Invoicing is designed to comply with these legal standards, providing businesses with a reliable solution for managing their invoicing needs while staying within the law.

Digital Invoicing Technical Assistance

Implementing digital invoicing can be complex, requiring specialized technical knowledge and support. myPOS FBR offers comprehensive technical assistance to ensure a smooth transition and ongoing support for businesses. This includes:

1. Setup and Configuration: Assistance with the initial setup and configuration of the digital invoicing system to ensure it meets the business’s specific needs.
2. Integration Support: Help integrate the invoicing system with existing business software and platforms, ensuring seamless operation and data flow.
3. Troubleshooting and Maintenance: Ongoing support to address any technical issues that arise, including software updates, bug fixes, and system maintenance.
4. Training and Resources: Providing training sessions and resources to educate business staff on using the digital invoicing system effectively.

With robust technical assistance, myPOS FBR ensures businesses can effectively implement and maintain their digital invoicing systems without disruptions.

List of Licensed Integrators

To ensure high-quality integration of digital invoicing systems, myPOS FBR collaborates with a list of licensed integrators. These integrators are certified and have demonstrated expertise in implementing digital invoicing solutions. The licensed integrators include:

Will be updated soon

These licensed integrators provide a range of services, from consultation to full-scale implementation, helping businesses effectively leverage the myPOS FBR Digital Invoicing platform.

Licensing Committee

The Licensing Committee oversees the certification and regulation of digital invoicing integrators. This committee ensures that integrators meet the necessary standards of quality and compliance. The responsibilities of the Licensing Committee include:

1. I am reviewing Applications: Evaluating applications from companies seeking to become licensed integrators.
2. Certifying Integrators: Issuing certifications to integrators who meet the required standards.
3. Monitoring Compliance: Regularly monitoring the performance of licensed integrators to ensure ongoing compliance with regulatory standards.
4. Addressing Complaints: Handling complaints and issues related to integrators, ensuring prompt resolution and maintaining system integrity.

The Licensing Committee maintains strict oversight to ensure that only qualified and reliable integrators are certified to work with myPOS FBR Digital Invoicing.

Digital Invoicing EOIs

Expressions of Interest (EOIs) invite businesses and integrators to express their interest in participating in the digital invoicing ecosystem. These EOIs gauge interest and capacity for future collaborations and developments. The process typically involves:

1. Submission of Interest: Interested parties submit their EOI outlining their capabilities and interest in digital invoicing.
2. Evaluation and Shortlisting: EOIs are evaluated based on predefined criteria, and a shortlist of potential candidates is created.
3. Engagement and Collaboration: Shortlisted candidates are invited for further discussions and potential collaboration opportunities.

EOIs help myPOS FBR identify and engage with potential partners, fostering innovation and growth in digital invoicing.

F.A.Q.s

Q: What is an electronic invoice?

A: A tax invoice created digitally using electronic tools in a specified format is recognized as a structured electronic invoice. However, if a paper invoice is transformed into an electronic one through copying, scanning, or any other method, it doesn’t qualify as an electronic invoice.

Q: What is electronic invoicing?

A: Electronic invoicing is a setup that converts the traditional method of creating paper invoices and notes into a digital and electronic process. This digital process facilitates the exchange of invoices, debit notes, and credit notes in a structured electronic format between buyers and sellers.

Q: Is electronic invoicing mandatory? Who is required to integrate?

A: As per Chapter XIV of the Sales Tax Rules 2006, electronic invoicing is mandatory for registered persons notified by the Federal Board of Revenue. Currently, as per S.R.O. 28 of 2024, the following registered persons are required to implement electronic invoicing:

• All importers and manufacturers of fast-moving consumer goods
• All wholesalers (including dealers) and distributors of fast-moving consumer goods
• All wholesaler-cum-retailers engaged in bulk import and supply of fast-moving consumer goods wholesale to retailers.

Q: What is the enforcement date for electronic invoicing?

A: As per S.R.O. 28 of 2024, the effective date for implementation is set to commence from February 1, 2024.

Q: Who is a licensed integrator?

A: A licensed integrator is an entity licensed under Chapter XIV-BB of the Sales Tax Rules, 2006, to integrate registered persons with FBR for electronic invoicing.

Q: Is integrating my P.O.S., ERP, or invoicing system through a licensed integrator mandatory?

A: Yes, for registered persons notified by FBR, it is mandatory to integrate their Point of Sale, Enterprise Resource Planning, or any other invoicing system with FBR through a licensed integrator with a valid FBR License for Integration. However, once licensed integrators are notified by FBR, registered persons notified via S.R.O. 28 of Sales Tax dated 10-01-2024 shall integrate their electronic invoicing system with the digital invoicing system of FBR as available on FBR’s website without licensed integrators.

Q: Where can you find a licensed integrator?

A: The FBR website will regularly update a list of valid licensed integrators.

Q: Is any fee to be paid to FBR by registered persons or licensed integrators?

A: No, a registered person is liable to install the electronic invoicing system through a licensed integrator, and any licensed integrator shall not be liable to pay any fee to FBR.

Q: What are FMCG products?

A: FMCG refers to consumer goods supplied in retail marketing according to a consumer’s daily demand, excluding durable goods.

Q: Is a physical visit to FBR required for integration?

A: No, a physical visit is not required for integration. Technical resources and help material will be available on the FBR website.

Q: How to download the software if it is available online?

A: Technical documentation for integration and Software Data Controller is available for download on the FBR website.

Q: Does the taxpayer require any commercial software for integration?

A: No. Registered persons notified by the Federal Board of Revenue must install electronic invoicing software provided by a person with a valid license granted by FBR. After integration with FBR, such electronic invoicing software shall transmit sales tax invoices electronically to FBR’s server in real time.

Q: Who can configure the software?

A: Only a licensed integrator with a valid FBR license can configure a registered person’s Point of Sale, ERP, or any electronic invoicing software for real-time electronic transmission of sales tax invoices to FBR’s server.

Q: Will FBR issue a list of integrated FMCG dealers similar to P.O.S. integrated retailers?

A: Yes, the FBR website will periodically upload an updated list of integrated FMCG supply chain actors.

Q: What if a taxpayer integrates after the notified date?

A: Registered persons notified to implement electronic invoicing may seek an extension under Rule 150Y of the S.R.O. 1525 dated November 10, 2023.

Q: How do you report non-FMCG supplies?

A: As per S.R.O. 28 of 2024, the following registered persons are required to implement electronic invoicing: all importers and manufacturers of fast-moving consumer goods, all wholesalers (including dealers) and distributors of fast-moving consumer goods, and all wholesaler-cum-retailers engaged in bulk import and supply of fast-moving consumer goods on a wholesale basis to retailers. Anyone in the above category of FMCG supply chain operators shall also issue electronic invoicing for non-FMCG supplies.

Q: Are there any penalties for licensed integrators for not being able to provide the desired service?

A: Yes, licensed integrators are subject to the Sales Tax Act 1990 provisions and the rules made thereunder. Any licensed integrator who contravenes any provision of this Act shall be liable to penal action as defined in section 33 of the Act.

Q: In case of business interruption on the part of S.C.O., what would be the responsibility of the S.C.O. and LI for reporting during such interruption?

A: S.C.O. and LI shall ensure that in all such eventualities, the Sales Tax Act 1990 provisions are followed. For example:

• If an invoice is issued on a particular date but goods cannot be dispatched due to a transportation issue.
• If an invoice is issued and goods are dispatched on a particular date, the internet system at the S.C.O. or LI of FBR goes down for a day or more.

Q: Are any penalties for S.C.O.s not integrating within the desired timeline?

A: S.C.O.s failing to comply with the Board’s timelines for integration are liable to penalties defined in section 33 of the Act.

Disclaimer: This F.A.Q.s section is a ready reference to facilitate all stakeholders of digital invoicing. The original Sales Tax Act 1990 and Sales Tax Rules 2006 shall always prevail in case of any contradiction or error herein. This information shall not be produced as a legal document before any court of law or legal forum, nor can it be used for any statutory proceedings.

In conclusion, myPOS FBR Digital Invoicing provides a comprehensive solution for businesses seeking to streamline their invoicing processes while ensuring compliance with legal and regulatory standards. With robust technical assistance, a network of licensed integrators, and a stringent oversight mechanism, myPOS FBR Digital Invoicing is well-equipped to support the diverse needs of businesses in the digital age.